Marc Lore, who previously sold Diapers.com parent company Quidsi to Amazon for more than $500 million, has now raised a fresh $25 million for Jet.com, bringing total funding for his new shopping site to $80 million before it has launched. Jet.com previously raised $55 million from New Enterprise Associates, Accel Partners, Bain Capital Ventures and MentorTech Ventures. While Lore has kept most details of Jet.com private, sources previously told Re/code that the site hoped to undercut Amazon and other competitors on pricing by dynamically pricing products based on how close they are to the buyer. Jet.com is expected to launch next year.
This article originally appeared on Recode.net.
Contributions are a key part of the future of Vox
Readers rely on Vox for clear, nuanced coverage that not only illuminates the issues, but poses solutions, too. And we rely on help from our readers: Advertising and grants cover the majority of our costs, but we count on contributions to help us close the gaps in our budget. In fact, we’re looking to reach 95,000 individual contributions before the end of the year. Will you make the next contribution right now? Our average gift is just $20 — and it goes a long way in helping us keep our work free. Vox is here to help everyone understand what’s shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. Join that mission by making a contribution today.
Yes, I'll give $5/month
Yes, I'll give $5/month
We accept credit card, Apple Pay, and
Google Pay. You can also contribute via
